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Medium range tanker freight rates fell back toward year-low levels as tonnage was plentiful and US gasoline stocks kept building. The Baltic dry index rose for a tenth straight session to 1,552, its highest since March 2014.
Capesize earnings climbed to $21,689 per day.
Dry bulk freight at multi-year highs raises the landed cost of imported grains and meals, especially for Middle East and South Asian feed buyers. Weak tanker rates have little direct effect on feed prices.
pakistangulfeconomist.comS. Kamal Hayder KazmiOct 22, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
